News Detail

Austin News Update July 24th, 2022


July 24, 2022

Stonelake Capital Partners announced it will break ground on Trailhead East, a 222-unit apartment complex in East Austin, Texas. (Stonelake Capital Partners)

Existing Texas Homes Popular With Foreign Buyers

Recon – 7/20/2022

Texas is the third most popular state for foreign buyers shopping for existing U.S. homes. International buyers purchased $59 billion in U.S. residential properties from April 2021 to March 2022, up 8.5 percent from the previous year, breaking a three-year streak of declines.


Cushman & Wakefield To Relocate Office in Downtown Austin, Texas

CoStar – 7/18/2022

Cushman & Wakefield plans to leave its office space at 200 W. Cesar Chavez St. and move a few blocks north to 405 Colorado in downtown Austin. The brokerage said in a statement it leased 18,005 square feet on a single floor at 405 Colorado, where it plans to move in January.


Stonelake To Break Ground on 222-Unit Apartment Complex in East Austin

CoStar – 7/18/2022

The East Austin, Texas, market continues to be a destination for real estate investment, with a local developer planning to break ground on the second phase of a 530-unit apartment project after receiving a construction loan from Comerica Bank.

Austin-based Stonelake Capital Partners will begin construction on Trailhead East, a 222-unit apartment complex at the corner of Shady Lane and Bolm Road. The apartment complex will feature a fifth-floor lounge and terrace, 4,100 square feet of coworking spaces with conference rooms, a fitness center and pool. Trailhead East should be completed by the summer of 2024.


Student Housing High-Rise Proposed At Site Of Cain & Abel’s Bar

ABJ – 7/22//2022

A West Campus bar that’s been a haven for Longhorns could be turned into student housing, according to an application filed July 19 with the city.

Bleyl Engineering filed the project plan along with 24 RG LLC to develop on the site of Cain & Abel’s at 2313 Rio Grande St.  It’s not clear exactly when the bar could close, although it doesn’t appear to be imminent. Cain & Abel’s owner Ellis Winstanley said the bar has “several years” remaining on a lease.


The conceptual plan for Mill Creek Residential’s Manor development.
(Courtesy Mill Creek Residential)

Cooling Trend Continues For Austin’s Long-Hot Housing Market

Austin American Statesman – 7/19/2022

The cooling trend felt across the five-county Austin area in recent weeks is showing up in the latest market statistics from the Austin Board of Realtors. The board’s  report shows that the pace of home-price growth is slowing, the volume of home sales is decreasing, housing supply is increasing, and homes are staying on the market a bit longer.


Semiconductor Sector Supplier LTD Material To Ramp Up Production, Hiring With New Building

ABJ – 7/21/2022

LTD Material LLC — which produces specialized items with names like ringboats and process tubes for semiconductor manufacturing and quartz fabrication — filed plans to build a two-story, 52,512-sq. ft. building at 15600 Bratton Lane near Wells Branch, right next to its existing 29,290-sq. ft. facility to help meet the growing demands of its customers.


Austin Lands First Nonstop Flight To Top Colorado Destination This Winter

Austin Culture Map – 7/18/2022

American Airlines is launching seasonal nonstop service between Austin and Vail, Colorado, one of the top ski vacation destinations in the country.  Effective December 15, American Airlines will start nonstop service between Austin-Bergstrom International Airport and Eagle County Regional Airport in Vail.


As Revenue Approaches $25M, Opifex Secures Financing To Expand Across Texas

ABJ – 7/22/2022

Executives at Opifex LLC, already one of the fastest-growing businesses in the Austin area, hope an injection of capital will help spread operations into all of the state’s biggest metros.  The construction equipment rental company recently secured $65 million in debt financing led by GP Capital Partners LP.


Luxury Fashion Brand Opens First Austin Store In Trendy South Congress Development

Austin Culture Map – 7/18/2022

New York-based fashion brand rag & bone is joining the mix at Music Lane. Tucked into a pocket behind iconic South Congress Avenue, rag & bone is located at 1011 South Congress Ave., Bldg 2, Ste 155. The Music Lane outpost is the brand’s first location in Austin — and third in Texas.


Funding Wrap: Upland Software Snags $115M For M&A; Brand Foundry Ventures Aims For $125M Fund

ABJ – 7/18/2022

‣  Local enterprise software company Upland Software Inc. secured a $115 million strategic equity investment from private equity firm HGGC, allowing Upland to acquire companies that might be in search of exits during an economic downturn.
‣  Financial-technology and lending automation startup TurnKey Lender Inc. raised $10 million in a mix of equity and debt which will help it reach more customers domestically and in Europe and Southeast Asia.


300-Plus Townhomes Cleared To Rise In Manor

ABJ – 7/22/2022

Manor City Council has agreed to rezone nearly 63 acres east of the city, clearing the way for the creation of a new neighborhood with some commercial space.  Council unanimously voted July 20 to zone the land for townhome and medium commercial use. Developer Mill Creek Residential plans 335 townhomes on the 52 acre site just south of U.S. Route 290.  A little more than nine acres at the site’s northwest corner will be zoned for medium commercial development.


Samsung Weighs Huge Austin-Area Growth: $200 Billion Investment, 11 New Fabs, 10,000 New Jobs

Austin American Statesman – 7/20/2022

In what could be the biggest economic investment in Central Texas history, technology giant Samsung is considering building 11 new chipmaking facilities in the Austin area over the next two decades, a stunning move that could lead to nearly $200 billion in new investment and create more than 10,000 jobs, according to documents filed with the state.

The proposals call for 11 new manufacturing plants, with two in Austin and nine in Taylor. The total investment would be $192.1 billion and would create about 10,000 jobs if Samsung goes through with all of the plans.



Tesla Files Plans to Expand its Austin Gigafactory

Connect Media  – 7/18/2022

Its current factory had its grand opening in April of 2022 and already Tesla wants to add onto to one of the biggest manufacturing campuses in the world. The current building is equivalent to 15 city blocks or three Pentagons, just over 4 million square feet. The company filed plans with the City of Austin to build a 500,000 square foot addition to its current factory. Tesla says it is planning to add two new assembly lines in the new building.


New York, Texas Top Latest List of Priciest Multifamily Projects Getting Underway as Industry Slowdown Expected

CoStar  – 7/20/2022

Developments in two of the nation’s largest markets for apartment construction topped the list of priciest U.S. multifamily projects to start in June as projections mount that building will slow this year.

The New York City area, which has the most apartment units under construction in the country, had the top two most expensive projects get underway in June while Austin, Texas, had the third costliest, according to Dodge Construction Network’s monthly report.   Austin is fourth in the country for apartment units under construction with nearly 30,000 units, according to CoStar,



Georgetown, Texas Shopping Center Sold by LRIC Properties

Connect Media  – 7/22/2022

Disney Investment Group (DIG) brokered the sale of Republic Square in Austin. The 113,772 square foot shopping center is located at the northeast corner of Interstate 35 and Williams Drive in Georgetown. The center is 92.8% leased with tenants that include Dollar Tree, Harbor Freight, Starbucks, Chipotle, Pizza Hut and others.


Georgetown Possible Site for Two New Self-Storage Facilities

Connect Media – 7/19/2022

The town council gave its tentative okay for a combined 250,000 sq. ft. of new space and to allow for three stories instead of one. One center is being proposed at 1301 NE Inner Loop in Georgetown on 7.3 acres. The other at 2701 E. University is slated to be put on 3.4 acres.

The University site will include 8,500 sq. ft. of rentable commercial space in addition to the three-story indoor self-storage building that will be about 120,000 sq. ft.  The proposed Inner Loop plan calls for a three-story building for indoor self-storage with 128,000 sq. ft. across three floors.


Hill Country Volvo Cars Breaks Ground, Is Expected To Offer Only Electric Vehicles By 2030

Community Impact – 7/22/2022

Hill Country Volvo Cars—a certified Volvo and Polestar dealership—broke ground on July 21 at FM 620 and Buckner Lane in Northwest Austin. The dealership plans to move to carrying only electric cars in the future. According to Dean J. Buschick, vice president and co-owner of Volvo Cars dealership in Austin, all of the 2023 Volvo cars models coming out “will have electrification,” meaning all vehicles will have some electric element.


4811 Woodrow, Austin, TX 78756

Boutique 52 Unit Apartment Complex + 2 Retail Spaces

• 1/2 Mile from The Triangle Shopping and Residences & less than 1 mile from Central Market Grocery; 1 mile from Seton Medical Center; Minutes to MoPac
•  Three-story complex with ample parking constructed in 2019 on .996 acres
•  On CapMetro Bus Line Stop one Block South at 47th & Burnet
•  Two retail spaces – Ste 103 occupied by Bishops Cut and Color; Suite 104 vacant
•  Multitude of restaurants within walking distance
•  Diverse unit mix of 11 floorplans including studios, 1-1’s and 2- 2 layouts
•  Full sized washer/dryer in each unit; roomy patios w/scenic views in select units
•  Currently 94% Occupied
•  Zoning CS-MU-U-CO-NP

Click here to view the marketing flyer.

For more information, contact:
Randall Beaman
Did You Know?

  • On July 23, 1803, land baron Samuel Maverick was born. His free-roaming cattle on Matagorda Island gave rise to the term “maverick” for an unbranded calf.
  • On July 24, 1880, the town of Kyle was established when David E. Moore and Fergus Kyle deeded 200 acres for a townsite.
  • On July 26, 1845, the United States flag is said to have been raised on St. Joseph Island, a sand barrier island in Aransas County, by United States troops.
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